The Hindu Business Line : Bajaj Auto gets Indonesian nod for facility

Bajaj Auto Ltd has been given permissionby the Indonesian Government for setting up its manufacturing facility in that country. The approval was given a month ago, Mr Sanjiv Bajaj, Executive Director, BAL, said here on Saturday.

Talking to presspersons after the company's annual general meeting , he said a joint venture had been formed with a local Indonesian Mr T. Boentoro who would have five per cent of the stake in the company, while BAL would hold the remaining 95 per cent.

The new joint venture has been named as PT Bajaj Auto Indonesia.

Mr Sanjiv Bajaj said the company had earmarked $50 million for investment in the Indonesian venture. He said the initial capacity would be about 10,000 three-wheelers and 1,00,000 two-wheelers, a year.

In the first year the company would be shipping the completely knocked down (CKD) units from India, which would be assembled at the Indonesian facility and then sold.

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